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Repsol completes sale of its Argentinean assets for $6.309 bln

Thursday, 22 May 2014 08:00pm EDT 

Repsol SA:Completes sale of its assets in Argentina with sale to JP Morgan Securities of remainder of BODEN 2015 securities that company still held.Securities with nominal value of $117.36 million were part of means of payments in compensation obtained for expropriation of 51 percent of YPF and YPF Gas.From sale of entire holding of Argentinean bonds, Repsol has obtained $4.9972 billion in compensation for expropriation.This extinguishes $5 billion debt recognised by Argentina.Repsol has sold 0.48% stake of YPF that it still owned following sale on May 7 of 11.86 percent of share capital of Argentinean company.Revenue from sale of 12.34 percent of YPF is $1.3113 billion.Combined effect of these transactions, including interest payments (accrued interest) represents total revenue of $6.3085 billion. 

Company Quote

0.69 +5.48%
5 Oct 2015